Tubeless Insulin Pump Market – Global Industry Insights, Trends, Opportunity Analysis 2017-2025
Tubeless insulin pump is a portable pump, which is effective in controlling blood glucose level. Advancements in technologies of insulin pumps, which reduce the need for daily insulin injection doses is expected to boost growth of the tubeless insulin pump market over the forecast period. Omnipod, by Insulet Corporation is expected to drive the growth of insulin pumps in near future. Omnipod is a novel tubeless insulin pump, which displays blood glucose levels, schedules insulin delivery, and calculates optimal insulin dosage based on food database. Furthermore, Insulet Corporation has recently added additional features such as touchscreen and Bluetooth to Omnipod Dash system. Portability offered by these devices permits easy attachment and placements of the device on clothing or desired body parts, which is expected to drive growth of the tubeless insulin pump market.
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Increasing funding by the government for studying various diseases including diabetes is also expected to fuel growth of the tubeless insulin pump market. For instance, in 2013, National Institute of Diabetes and Digestive and Kidney Disease (NIDDK) funded several important studies on different types of artificial pancreas devices to help patients suffering from type 1 and type 2 diabetes and gestational diabetes. Insulin pumps have gained traction, owing to the rapid acting mechanism offering instant insulin delivery, user friendly interface, and flexible insulin delivery, which is expected to fuel growth of the tubeless insulin pump market over the forecast period.
Increasing prevalence of diabetes and robust development in technology is expected to drive growth of the market over the forecast period
Increasing prevalence of diabetes due to obesity and increasing geriatric population is driving demand for tubeless insulin pump market. According to the World Health Organization, 2016, an estimated 422 million adults were suffering from diabetes globally. New technologies incorporated into tubeless insulin pump devices is leading to increasing demand for insulin pump devices worldwide. Market players are focused on developing new technologies in tubeless insulin pump devices, which can be used at home with ease and with accurate results, this in turn is expected to boost overall market growth during the forecast period. For instance, in 2016, in the U.K., Medtrum Technologies, Inc. launched S6 Easysense Disposable CGM System, which provides interstitial glucose levels in every two minutes and P6 Tubeless Patch Pump, which is ideal for type 2 diabetes management and gestational diabetes. It also allows monitoring of data using mobile app. However, high long-term cost associated with the use of tubeless insulin pump hampers the market growth. Compliance to therapy reduces over the time, owing to significant cost associated with daily use.
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On the basis of geography, North America is expected to dominate the tubeless insulin pump market, followed by Europe, owing to high adoption rate for new technology and continuous government initiatives to create awareness regarding diabetes. For instance, in 2016, the American Diabetes Association (ADA) recommended diabetes education, training on the device, and providing support after prescription of Continuous Glucose Monitoring (CGM) and insulin pump. Market in Asia Pacific is lucrative in terms of market opportunities due to increase in research and development activities by various vendors and implementation of government initiatives for diabetic patients. For instance, in 2017, National Diabetes Services Scheme (NDSS) initiated by Australian Government funded Insulin Pump Programme to increase the affordability of insulin pumps to for people suffering from type 1 diabetes who don’t have access to private health insurance.
Major players operating in the tubeless insulin pump market include Medtronic Plc., Medtrum Technologies, Inc., Tandem Diabetes Care, Insulet Corporation, and Animas Corporation.
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